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"Interesting from 2016 Poroshenko being excused by Rothschild trust over his offshore account taxdodge.\n \n\n\n\tPanama Papers: Rothschild defends Poroshenko\n \n\n\n\t \n \n\n\n\tRothschild Trust, a branch of Rothschild Wealth Management &amp; Trust, on Thursday confirmed signing what it described as a transparent trust arrangement agreement to manage the assets of Petro Poroshenko, an oligarch with business interests spanning from chocolates to television who was elected president of Ukraine following the 2013-2014 Maidan revolution. The emailed statement follows reports and claims of possible impropriety by Mr Poroshenko in setting up a British Virgin Islands-registered company, writes Roman Olearchyk in Kiev. Documents leaked from Panama’s law firm Mossack Fonseca revealed Mr Poroshenko’s registration of a BVI-registered offshore company. In an emailed statement seemingly aimed to dispel concerns, the Zurich-based company said: As a matter of principle, we never comment on individuals or client relationships, but on this occasion we have been authorized by our client to confirm that Rothschild Trust has been appointed by Mr Poroshenko as trustee of a blind trust to hold his shares in Roshen [Mr Poroshenko's chocolate and confectionary business]. This follows over 12 months of extensive preparation, and the relevant trust deed was signed on 14th January 2016. The trust has been modelled on international standards for politicians requiring trusts to hold their assets while they are in office. Mr Poroshenko, and his representatives including lawyers and Kiev-based investment bank ICU, have this week denied accusations of possible wrongdoing. They have insisted registration of this and other offshore companies was transparent and necessary to setup the “blind trust.”\n \n\n\n\t \n \n\n\n\thttps://www.ft.com/content/ddecd617-65c9-36fb-8156-4b388a8fa456\n \n\n\n\t \n \n\n\n\tTaxes of Ukraine’s Poroshenko show his income jumped 10,000% thanks to Rothschild Trust\n \n\n\n\tThe annual income gains of Petro Poroshenko, who is currently fighting for a second presidential term in Ukraine, saw a nearly hundredfold surge in 2018, the president’s tax documents reveal.\n \n\n\n\tAccording to the Ukrainian unified register of asset and income declarations, Poroshenko’s fortune totaled 1.56 billion hryvnia (US$57 million) over 12 months through March 31, which is 95 times as much as he reported in the same period a year ago. In 2017, Poroshenko’s gains reportedly reached 16.3 million hryvnia ($600,000).\n \n\n\n\t \n\tMost of Poroshenko’s income – around $40.4 million – reportedly comes from return on investment in Zurich-based Rothschild Trust Schweiz, a trust subsidiary of Rothschild Bank AG. The Ukrainian president also earned $14.7 million in profit from the Prime Assets Capital investment fund, while returns on domestic government loan bonds amounted to nearly a million dollars.\n\n\n\n\t \n\n\n\n\tPoroshenko reportedly received around $30,000 from property sales, with more than $14,000 reportedly received from his wife Marina Poroshenko. Meanwhile, his official paycheck totals $12,400.\n \n\n\n\tThe average monthly salary in Ukraine in September 2018 was 9,042 hryvnia (about $320), according to the country’s State Statistics Service.\n \n\n\n\t \n \n\n\n\tAccording to the tax filings, the president owns a residential house with an area of more than 1,330 square meters in Kozyn, Kiev Region, along with three land plots in the same village with a total land area of about 42,000 square meters. Poroshenko also has three properties with a total land area of more than 12,000 square meters and two apartments in Kiev. Another apartment belonging to the president is located in the city of Vinnytsia, while Poroshenko’s wife owns a flat in Kiev, and a land plot and a garden house in Boryspil district in Kiev Region.\n \n\n\n\t \n \n\n\n\thttps://webcache.googleusercontent.com/search?q=cache:vW5W2d2cUsQJ:https://www.rt.com/business/455251-poroshenko-fortune-hundredfold-ukraine/+&amp;cd=1&amp;hl=en&amp;ct=clnk&amp;gl=uk&amp;client=firefox-b-d\n \n"
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